Indian Web3 Social App Chingari Partners With Aptos Blockchain; GARI Token Surges 48%
Chingari will release a newer version of its TikTok-like Web3 app exclusively available on Aptos.
Indian Web-3 social-video app Chingari has partnered with the Aptos blockchain to provide infrastructural support for its Web3 product base, according to a Wednesday blog post from Chingari.
The partnership, which will take the Solana-native platform multi-chain, is scheduled to launch in the second quarter of this year. The version of the Chingari app that will launch in Aptos will boast a “more scalable experience with newer products,” according to the post. Legacy support for Solana-based Chingari users will remain, however.
The Block reported that Aptos is investing in Chingari as part of the deal. Aptos and Chingari did not immediately comment on the terms of that deal to CoinDesk.
Chingari CEO and co-founder Sumit Ghosh said the partnership is a stepping stone for the app's plans to expand to new markets in the near future.
"A stronger reason for us to partner with Aptos Labs is their immense social media ecosystem experience," Ghosh told CoinDesk. "The impact of Chingari building on Aptos blockchain will pave the way for a strong foundation and case study in the Indian ecosystem prior to expanding towards newer markets in the near future."
Chingari's partnership with the Aptos blockchain also aims to facilitate transactions, increase transaction speeds and bolster the platform’s security.
“Aptos offers several key benefits, including increased scalability, security and speed, making it the perfect fit for Chingari’s needs,” Chingari said in a statement.
The price of Chingari’s native token, GARI, soared roughly 48%, to a high of 8 cents, in the minutes after news of the partnership broke. The token traded at $0.0783 at press time, according to TradingView data.
UPDATE (Feb. 8, 2023 19:51 UTC): Adds quote from Sumit Ghosh for context on the Aptos partnership.
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